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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Corcel PLC - battery metals exploration company - Signs a binding but conditional share purchase agreement with Australian-registered Resource Mining Corp Ltd to acquire Niugini Nickel Pty Ltd, which owns 100% of the Wo Wo Gap nickel-cobalt project in Papua New Guinea. As consideration for the acquisition, the company says it is releasing all liabilities and obligations in connection with its AUD4.8 million, about GBP2.5 million, senior debt position in Resource Mining.
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Amiad Water Systems Ltd - Israel-based supplier of water filters and filtration systems - Says it will stop trading in London on August 23 as it moves to Tel Aviv Stock Exchange. This follows the company's receipt of approval for the TASE Listing from TASE and the Israeli Securities Authority.
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UDG Healthcare Public Ltd Co - Dublin-based healthcare firm - Expects to stop trading in London on Tuesday next week following a takeover by Nenelite Ltd, a newly incorporated company and affiliate of Clayton Dubilier & Rice LLC.
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Silver Bullet Data Services Group PLC - London-based marketing consulting company - Reports five new business wins and a strategic partnership with an undisclosed marketing technology company. "Opportunities have arisen from changing regulation and corporate policy as we aim to capitalise on the once in a generation, permanent, global shift in consumer behaviour towards digital media," says Chief Executive Ian James.
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Princess Private Equity Holding Ltd - investment firm - Says its investee Hortifruti Natural da Terra, Brazil's fresh food retail chain, will be sold to Brazilian conglomerate Americanas SA. The transaction values Hortifruti at an enterprise value of BRL2.4 billion, about GBP332.7 million. The transaction values Princess' stake in Hortifruti at BRL67 million. This compares to a carrying value of BRL60.6 million at June 30.
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JPEL Private Equity Ltd - investment firm - Says the partial mandatory redemption of its USD equity share class has been completed with the redemption of 42.5 million USD equity shares at the prevailing net asset value per USD equity share of USD2.00 as at June 30. Such shares were cancelled automatically following their redemption.
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Highbridge Tactical Credit Fund Ltd - investment firm - Says it will return GBP15.2 million, equivalent to GBP1.24 per share, on Friday next week by way of a compulsory partial redemption of shares. The redemption will be effected at GBP2.7513 per share, being the NAV per share as at June 30. All shares that are redeemed will be cancelled.
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Acorn Income Fund Ltd - investment firm - Confirms that the extraordinary and annual general meetings will not be held in August as previously expected. The move comes amid conclusions that an alternative proposal to the BMO proposal may represent a more suitable proposition for the company's shareholders. On May 17, Acorn announced proposals to recommend the appointment of BMO Global Asset Management to manage the company under a new sustainable global equity income investment strategy. Separately, the company declares a third interim dividend for 2021 of 5.75 pence per share.
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REA Holdings PLC - engaged in the cultivation of oil palms - Satisfies conditions for the Indonesian rupiah denominated loan and working capital facility, with one exception. Notwithstanding that this condition has still to be satisfied, REA says Indonesian bankers agreed that the arrangements with them could be completed. Accordingly, the two new loans and working capital facility have been drawn down and the previous loan and working capital facility repaid.
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Live Co Group PLC - events and entertainment firm - Reports progress with regards to the Formula E Cape Town race planned for February 2022. The company confirms that the Cape Town Mayoral Committee has agreed to the upcoming Formula E race proposed route and investment in the track around Cape Town stadium and Green Point park and recommends that the council, with whom final approval stands, confirm their support. This is an important step in the final approval conditions precedent set by Formula E Holdings for the host promoter agreement. Live Co also announces a five year partnership between e- Movement - the company responsible for the bid of the South African race - and the South African Tourism board as the travel and tourism partner for the race.
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MTI Wireless Edge Ltd - Israel-based antennas and accessories manufacturer - Secures an agreement for the development and production of Naval antennas with Ultra Electronics TCS Inc. The first phase of the agreement includes the development of two types of antennas and the supply of several units of each, together, worth USD570,000. These antennas will be supplied within the next 20 months. However, the customer plans to order more antennas if the first order meets all requirements. Consequently, the agreement includes pricing for all future purchases, and if, as expected by MTI, Ultra TCS takes up the option to order further units, the agreement would triple in value.
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Shield Therapeutics PLC - pharmaceutical company - Enters into an exclusive licence agreement for Accrufer with Korea Pharma Co Ltd in the Republic of Korea. Alongside the financial terms of the licence, Korea Pharma will undertake and pay for all activities to achieve marketing authorisation and then commercialise Accrufer in Korea. Shield says it will receive an upfront payment of GBP500,000 and is eligible to receive a further GBP1.5 million upon first commercial sale of Accrufer in Korea. Shield will also receive up to GBP4.0 million in milestone payments upon the achievement of specified cumulative sales targets. For the duration of the intellectual property in Korea, Shield will receive royalties of 15% of net sales of Accrufer. Korea Pharma will be responsible for all clinical and regulatory costs and activities as well as all manufacturing and distribution costs of goods sold in Korea.
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Creo Medical Group PLC - medical device company - Proposes placing by way of an accelerated bookbuild to raise a minimum of GBP30 million before expenses via a conditional placing of new shares at a price of 182.5p each to new and existing institutional investors, to support further growth of the company and development of its business. The accelerated book build process is expected to close on Friday, following which the final quantum of the placing proceeds will be announced. Furthermore, the company is proposing to raise up to GBP5 million by way of an open offer.
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Forward Partners Group PLC - venture capital firm - Reports its first portfolio company exits since its admission to AIM in July. Forward Partners has exited its investments in Wonderbly, the publishing platform for personalised children's books, and Heights, the brain health and cognition supplements company for a total of GBP5 million. The proceeds from the divestments will be reinvested in Forward Ventures and Forward Advances. Forward Partners also announces a GBP1 million investment in Ryde, the on-demand delivery driver platform.
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Wishbone Gold PLC - Gibraltar-based precious metals exploration company - Says the Queensland government accepts proposal by the company to take on additional land under the current Wishbone II EPM. "We are excited to acquire a block such as this, considering how paradoxically underexplored the region has been, given its gold-copper endowment," says Chair Richard Poulden.
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Xtract Resources PLC - metals and minerals producer - Reports on the continuing progress of the phase two diamond drilling programme with the completion of the third and fourth holes at the Bushranger copper-gold porphyry exploration project in New South Wales, Australia, as well as positive news on the renewal of the Racecourse exploration licence. The third and fourth angled holes of the phase two programme have been completed, confirming the occurrence of wide zones of copper mineralisation on both the western and eastern flanks of the Racecourse porphyry intrusion. Drilling of the fifth and sixth holes of the programme is already well under way, Xtract notes. The company was informed by the New South Wales licensing authority that it is proposed to renew the exploration licence covering the Racecourse deposit and adjoining prospects for a further three years until June 2024.
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Thor Explorations Ltd - Canadian gold exploration and development company - Reports further drilling results from the northern extensions of the Makosa mineralised trend at its Douta project, Senegal. Wide-spaced exploratory drill sections were completed over a 1,300 metres northern extension beyond the last line of drilling. Results received to date indicate that gold mineralisation continues to the north and remains open-ended.
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San Leon Energy PLC - Dublin-based oil & gas exploration company - Says its investee Decklar Resources Inc reported the Oza-1 well re-entry at the Oza oil field in Nigeria, being performed by the company's subsidiary, Decklar Petroleum Ltd.
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Altus Strategies PLC - mining royalty company - Reports results from reverse circulation drilling at its Diba gold project located in western Mali. Diba hosts a shallow-dipping, near-surface gold deposit and a number of other prospective targets. "Drilling at Diba NW will resume following the end of the rainy season in September. The programme is testing on-strike and down-dip extensions to the mineralisation, prior to the completion of a maiden resource estimate for Diba NW," says CEO Steven Poulton.
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Cadence Minerals PLC - investor in mineral resources - Notes that Macarthur Minerals has announced that a geotechnical diamond core drilling programme is presently underway at Lake Giles to support the current feasibility study for Lake Giles iron project, located in Western Australia. The drilling programme includes a series of drill holes of between 175 to 220 metres in depth for a total of 1,560 metres for the purposes of supporting the mine planning work. The drill programme is expected to take 8 weeks to complete.
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Powerhouse Energy Group PLC - company which transforms plastics and waste into clean energy - Reports the acquisition by Powerhouse of 48% of Engsolve Ltd, the engineering consultancy. The shares have been bought for a consideration of GBP99,990 in cash from Engsolve shareholders.
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Conroy Gold & Natural Resources PLC - exploration and development company - Reports gold intersections from drilling completed in the Cargalisgorran section of its Clay Lake gold target in the Longford-Down Massif in Ireland, where it has discovered a new 65 kilometres long district scale gold trend. Three gold zones were intersected in a vertical hole drilled to a depth of 103 metres. The company says its drilling programme elsewhere in the Longford-Down Massif continues, including drilling on licences PL 1870 and PL 2386.
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Falcon Oil & Gas Ltd - exploration and development company - Reports the spudding of the Velkerri 76 S2-1 well in the Beetaloo Sub-Basin, Northern Territory, Australia, with joint venture partner, Origin Energy B2 Pty Ltd, a subsidiary of Origin Energy Ltd. Velkerri 76 is targeting the Velkerri play along the south-eastern flank of the Beetaloo Sub-Basin, which is predicted to be in a liquids rich gas window.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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